Siren, The Solution Complete $50 Million Financing

May 09, 2013|Dave McNary | Variety

Siren Studios and The Solution Entertainment Group have completed financing on a multi-year $50 million revolving equity fund for development and production.

The coin is being used for a pair of projects for sale in Cannes — romantic comedy "Laggies," starring Chloe Moretz and Sam Rockwell with Keira Knightly in talks to come on board; and heist thriller "The Forger," starring John Travolta.

The funds have been raised by Sirenâs Brandon Nutt and Kyle Jackson.

The companies formed a strategic partnership last year that includes physical production, post production services and joint ownership of The Solutionâs genre sales label Synchronicity.

âWhen Lisa Wilson and I launched The Solution in 2012 one of our goals was to be a one-stop finance, production & sales operation,â said Solution topper Myles Nestel.Â âThe partnership with Siren Studios on this new fund opens the doors still further to those ambitions and our aim to be a 21st century approach to the old studio system.â

"Laggies" is produced with Anonymous Content and directed by Lynn Shelton with a June 2 start date in Seattle. Producers are Anonymousâ Steve Golin, Alix Madigan-Yorkin and Rosalie Swedlin alongside The Solutionâs Myles Nestel, and Sirenâs Craig Chapman and Kyle Jackson.

The fund is co-financing "The Forger" with Code Entertainment. Shooting is set to start shooting in August.Â Codeâs Al Corley, Bart Rosenblatt, and Eugene Musso will produce along with Prospect Parkâs Rob Carliner.